US factory orders edge past forecasts in September

Factory orders in the US edged higher by 0.3% month-on-month in September to reach $455.5bn, according to the Department of Commerce.

Economists had forecast a rise of 0.4% over the month.

Excluding the transportation sector, factory orders increased by 0.6% on the month.

Total factory orders grew 0.4% in August, two-tenths of a percentage point more than a preliminary estimate, while those for durable goods dipped 0.3% (consensus: -0.1%).

Shipments increased by 0.8% over the month to reach $463.0bn following an increase of 0.2% in the month before, while unfilled orders slipped by 0.4% and inventories were unchanged.